Analysts Set Kimco Realty Corp (NYSE:KIM) PT at $24.68

Shares of Kimco Realty Corp (NYSE:KIM) have earned a consensus rating of “Moderate Buy” from the fifteen ratings firms that are presently covering the company, MarketBeat.com reports. Nine analysts have rated the stock with a hold recommendation, four have issued a buy recommendation and two have issued a strong buy recommendation on the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $24.68.

A number of research analysts recently issued reports on KIM shares. JPMorgan Chase & Co. dropped their price objective on shares of Kimco Realty from $25.00 to $24.00 and set a “neutral” rating for the company in a report on Tuesday, February 18th. Citigroup dropped their price target on shares of Kimco Realty from $27.00 to $21.00 and set a “neutral” rating on the stock in a research report on Monday, March 17th. Wells Fargo & Company dropped their price target on shares of Kimco Realty from $24.00 to $23.00 and set an “equal weight” rating on the stock in a research report on Wednesday, March 26th. Wall Street Zen downgraded shares of Kimco Realty from a “hold” rating to a “sell” rating in a research report on Saturday, May 24th. Finally, Scotiabank dropped their price target on shares of Kimco Realty from $24.00 to $23.00 and set a “sector perform” rating on the stock in a research report on Wednesday, April 23rd.

Kimco Realty Stock Up 0.8%

Shares of NYSE KIM opened at $21.00 on Monday. The company has a 50 day simple moving average of $20.59 and a 200 day simple moving average of $22.00. The firm has a market cap of $14.20 billion, a PE ratio of 37.49, a price-to-earnings-growth ratio of 2.78 and a beta of 1.27. Kimco Realty has a 1 year low of $17.93 and a 1 year high of $25.83. The company has a debt-to-equity ratio of 0.78, a current ratio of 3.65 and a quick ratio of 3.59.

Kimco Realty (NYSE:KIM) last issued its quarterly earnings data on Thursday, May 1st. The real estate investment trust reported $0.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.42 by $0.02. The business had revenue of $536.62 million during the quarter, compared to analyst estimates of $520.68 million. Kimco Realty had a net margin of 20.17% and a return on equity of 3.82%. The firm’s quarterly revenue was up 965.3% on a year-over-year basis. During the same quarter last year, the business earned $0.39 EPS. On average, research analysts forecast that Kimco Realty will post 1.71 EPS for the current year.

Kimco Realty Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 20th. Shareholders of record on Friday, June 6th will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, June 6th. This represents a $1.00 dividend on an annualized basis and a yield of 4.76%. Kimco Realty’s dividend payout ratio (DPR) is presently 129.87%.

Institutional Trading of Kimco Realty

Several institutional investors have recently made changes to their positions in KIM. FMR LLC grew its position in Kimco Realty by 7.9% during the fourth quarter. FMR LLC now owns 24,095,602 shares of the real estate investment trust’s stock valued at $564,560,000 after buying an additional 1,755,684 shares during the period. Invesco Ltd. lifted its holdings in shares of Kimco Realty by 14.7% in the first quarter. Invesco Ltd. now owns 19,936,026 shares of the real estate investment trust’s stock worth $423,441,000 after buying an additional 2,552,276 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Kimco Realty by 2.2% in the fourth quarter. Geode Capital Management LLC now owns 17,592,283 shares of the real estate investment trust’s stock worth $411,179,000 after buying an additional 377,074 shares in the last quarter. Resolution Capital Ltd lifted its holdings in shares of Kimco Realty by 13.7% in the fourth quarter. Resolution Capital Ltd now owns 16,578,826 shares of the real estate investment trust’s stock worth $388,442,000 after buying an additional 1,992,550 shares in the last quarter. Finally, Norges Bank purchased a new stake in Kimco Realty in the fourth quarter valued at approximately $363,436,000. Institutional investors own 89.25% of the company’s stock.

About Kimco Realty

Kimco Realty Corp. is a real estate investment trust (REIT) headquartered in New Hyde Park, N.Y., that is one of North America’s largest publicly traded owners and operators of open-air shopping centers. As of December 31, 2018, the company owned interests in 437 U.S. shopping centers comprising 76 million square feet of leasable space primarily concentrated in the top major metropolitan markets.